On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $167,000. At December 31, Helbert declared and paid a $46,400 cash dividend and reported net income of $231,000.
Journalize the transactions. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No entry" for the
account titles and enter 0 for the amounts. Record journal entries
in the order presented in the problem.)
Homework Answers
ANSWER
| Date | Description | Debit($) | Credit($) |
| Investment in Helbert corporation .. | $167,000 | ||
| Cash | $167,000 | ||
| cash account(46,400 *25%) | 11,600 | ||
| Investment in Helbert corporation .. | 11,600 | ||
| Investment in Helbert co..(231,000 *25% | 57,750 | ||
| Revenue investment in Helbert corporation .. | 57,750 | ||
Amount to be reported as an investment in helbert co.. stock in 31 december
| Particulars | ($) |
| On 1jan purchase investment in helbert corporation .. | 167,000 |
| Add:share of income | 57,750 |
| 224,750 | |
| Less:Devidend received | 11,600 |
| Investment in helbert corporation stock in 31, December | 213,150 |
| Investment in Helbert corporation stock in at 31 ,December | $213,150 |
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On January 1, Zabel Corporation purchased a 25% equity in
Helbert Corporation for $167,000. At December...
On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $167,000. At December...
On January 1, Zabel Corporation purchased a 25% equity in
Helbert Corporation for $167,000. At December 31, Helbert declared
and paid a $46,400 cash dividend and reported net income of
$231,000.
Journalize the transactions. (Credit account titles are
automatically indented when the amount is entered. Do not indent
manually. If no entry is required, select "No entry" for the
account titles and enter 0 for the amounts. Record journal entries
in the order presented in the problem.)
Date Account...
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December 31, 2016
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Retained earnings
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On January 1, Zabel Corporation purchased a 25% equity in
Helbert Corporation for $167,000. At December 31, Helbert declared
and paid a $46,400 cash dividend and reported net income of
$231,000.
Journalize the transactions. (Credit account titles are
automatically indented when the amount is entered. Do not indent
manually. If no entry is required, select "No entry" for the
account titles and enter 0 for the amounts. Record journal entries
in the order presented in the problem.)
Date Account...
On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $181,500. At December 31, Helbert declared and paid a $46,600 cash dividend and reported net income of $192,000. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and...
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Balance Sheet (partial)
December 31, 2016
Shareholders’ equity
Common shares (unlimited number
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Retained earnings
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Total shareholders’ equity
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on January 31, payable February 15.
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Announced a 2-for-1 stock split. The market price per share on
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